Have just spoken to Customer Service who tell me you cannot balance transfer from paypal credit to a credit card!
I have been transferring balances between cards for years and never had this issue before. I presume this is to lock you in and then start hiking fees.
Surely this must be in breach of some form of financial code?
Extremely disappointed as I had previously thought Paypal to be a very progressive company.
Thank you for taking the time to post your question in our Community.
I understand that you are not happy that we do not allow you to transfer funds between credit cards from your PayPal credit. We do not allow this as it is cash advancing. PayPal credit can only be used for purchases and not to withdraw the money as cash. If you transfer money between 2 cards there is also a risk of chargebacks, which can lead to a negative balance. In order to prevent this from happening we do not allow the funds to be transferred between cards. I hope this information helps to explain why we can not allow it.
This serves only to trap people and force them to pay your interest. Will be avoiding paypal where possible in the future as clearly consumer friendliness has gone down the drain.
I used it in a pinch, and am now stuck paying 25% interest. Making the minimum payment BARELY covers the interest I'm incurring each month. If I could disable it, I would, but I'll definitely NEVER use it again.
